Visionary Horizons LLC Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

Visionary Horizons LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,774 shares of the financial services provider’s stock after purchasing an additional 241 shares during the period. Visionary Horizons LLC’s holdings in M&T Bank were worth $710,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Hedeker Wealth LLC lifted its position in shares of M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 55 shares during the period. Catalina Capital Group LLC raised its stake in M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after buying an additional 56 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 57 shares during the period. Crestwood Advisors Group LLC boosted its position in M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

Shares of MTB opened at $200.59 on Friday. The company has a market cap of $33.28 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.42 and a beta of 0.79. The business’s fifty day simple moving average is $197.10 and its two-hundred day simple moving average is $187.93. M&T Bank Co. has a 12 month low of $129.36 and a 12 month high of $225.70. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the firm earned $2.74 EPS. Research analysts anticipate that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. M&T Bank’s dividend payout ratio is presently 36.91%.

M&T Bank declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MTB shares. Keefe, Bruyette & Woods raised their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Compass Point raised their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. DA Davidson increased their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Bank of America boosted their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus target price of $221.68.

Insider Activity

In related news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,397 shares of company stock valued at $6,379,459 over the last three months. Insiders own 0.82% of the company’s stock.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.